Akora Resources (ASX: $AKO) announces 42% increase in Bekisopa high-grade iron ore DSO mineral resource estimate

Akora Resources (ASX: $AKO) has reported a significant 42% increase in the JORC compliant indicated and inferred Direct Shipping Ore (DSO) resource at its flagship Bekisopa Iron Ore Project in Madagascar. The resource now stands at 7.88 million tonnes (Mt) at an average grade of 58.8% Fe, following a targeted shallow infill drilling program completed in October 2023. This increase extends the Bekisopa Scoping Study mine life to six years, with expectations of providing a substantial uplift to the project's financials.

Executive Commentary on Bekisopa Iron Ore Project

Akora's Managing Director and CEO, Mr Paul Bibby, highlighted the positive impact of the increased DSO tonnage at the Bekisopa Project, expecting it to extend the Stage One mine life to six years and significantly enhance project economics. He also emphasized the potential for further exploration success at Bekisopa and the nearby Satrokala Project, which could substantially improve study outcomes. Mr. Bibby also mentioned the ongoing Pre-Feasibility Study (PFS) and the potential for a larger longer mine life Stage Two, indicating the company's ambitious growth plans.

Summary of Akora Resources Announcement

Akora Resources' increase in the Bekisopa high-grade iron ore DSO resource to 7.88Mt at 58.8% Fe marks a significant development, extending the mine life and improving project economics. The company's ongoing Pre-Feasibility Study (PFS) and exploration activities at Bekisopa and Satrokala Project demonstrate its commitment to further growth and potential for improved study outcomes. With the resource extension and the potential for additional DSO tonnes, Akora is poised for a promising outlook in the iron ore sector, aligning with its goal of developing an open pit operation and producing high-grade iron material for steelmaking.